Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) Short Interest Up 230.9% in February

Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 2,560,000 shares, an increase of 230.9% from the January 31st total of 773,600 shares. Based on an average trading volume of 13,880,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 5.1% of the company’s stock are short sold.

Greenwave Technology Solutions Stock Performance

GWAV opened at $0.26 on Friday. Greenwave Technology Solutions has a 1-year low of $0.25 and a 1-year high of $117.00. The company has a market cap of $10.12 million, a price-to-earnings ratio of 0.00 and a beta of 1.32. The company’s fifty day moving average price is $0.46 and its two-hundred day moving average price is $0.46. The company has a current ratio of 1.52, a quick ratio of 1.36 and a debt-to-equity ratio of 0.09.

Insider Buying and Selling

In other news, Director Jason T. Adelman purchased 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were acquired at an average price of $0.66 per share, for a total transaction of $66,000.00. Following the completion of the acquisition, the director now owns 400,000 shares in the company, valued at approximately $264,000. The trade was a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Danny Meeks acquired 377,002 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were purchased at an average price of $0.66 per share, with a total value of $248,821.32. Following the acquisition, the chief executive officer now owns 2,122,695 shares of the company’s stock, valued at approximately $1,400,978.70. This represents a 21.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Greenwave Technology Solutions

An institutional investor recently raised its position in Greenwave Technology Solutions stock. Geode Capital Management LLC raised its stake in shares of Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) by 134.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 177,055 shares of the company’s stock after purchasing an additional 101,579 shares during the period. Geode Capital Management LLC owned approximately 0.79% of Greenwave Technology Solutions worth $124,000 as of its most recent SEC filing. 15.64% of the stock is currently owned by institutional investors and hedge funds.

Greenwave Technology Solutions Company Profile

Greenwave Technology Solutions, Inc, through its subsidiary, operates metal recycling facilities in Virginia, Ohio, and North Carolina. The company collects, classifies, and processes appliances, construction materials, end-of-life vehicles, boats, and industrial machinery. It is also involved in the purchasing and sale of processed and unprocessed scrap metals; and operation of automotive shredders.